First Solar Target of Unusually High Options Trading (FSLR)
Shares of First Solar (NASDAQ:FSLR) was the target of unusually large options trading activity on Wednesday. Stock investors bought 28,708 call options on the company, American Banking & Market News reports. This represents an increase of 108% compared to the average daily volume of 13,824 call options.
A number of research firms have recently commented on FSLR. Analysts at TheStreet reiterated a “hold” rating on shares of First Solar (NASDAQ:FSLR) in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of First Solar (NASDAQ:FSLR) in a research note to investors on Thursday, September 26th. They now have a $42.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $35.50.
Shares of First Solar (NASDAQ:FSLR) traded up 1.99% during mid-day trading on Wednesday, hitting $42.98. The stock had a trading volume of 5,819,843 shares. First Solar has a 1-year low of $19.68 and a 1-year high of $59.00. The stock has a 50-day moving average of $38.65 and a 200-day moving average of $42.37. The company has a market cap of $4.197 billion and a P/E ratio of 11.17.
First Solar (NASDAQ:FSLR) last released its earnings data on Tuesday, August 6th. The company reported $0.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.53 by $0.14. The company had revenue of $520.00 million for the quarter, compared to the consensus estimate of $721.08 million. During the same quarter in the prior year, the company posted $1.27 earnings per share. The company’s quarterly revenue was down 45.7% on a year-over-year basis. On average, analysts predict that First Solar will post $3.83 earnings per share for the current fiscal year.
First Solar, Inc manufactures and sells photovoltaic (NASDAQ:FSLR) solar modules with an advanced thin-film semiconductor technology, and it designs, constructs, and sells PV solar power systems.
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